As North American producers prepare to harvest what’s projected to be a bin busting crop, South American producers are praying for rain as their planting season rapidly approaches. Unfortunately, South American agricultural regions are bracing for an intensification of already historic drought conditions as the climate system shifts toward La Niña, which is now likely to develop during the…

August 22, 2024…

A customer recently asked me what Illinois' highest yield was before the USDA projected Illinois' yield at 225 bushels per acre in the August WASDE data release. That question got me thinking about Illinois’ trendline, and I wanted to share what I found.…

Beans are almost a quarter lower as a combination of factors increased carryouts sharply. Corn rose $.05 following the report as of 12:00 Central time, on increasing use overshadowing a 2.1 bu/ac increase in the yield.…

The USDA will update their Supply and Demand worksheets for August on Monday at 11 AM.…

The University of Nebraska's latest Drought Monitor reveals a significant increase in abnormally dry areas in states like Iowa, Illinois, and Indiana. Iowa experienced a sharp rise in abnormally dry conditions from 16.35% to 30.83%, indicating a substantial spread of dryness. Similarly, Illinois and Indiana saw increases in abnormally dry areas, with Illinois rising from 14.21% to 43.90% and…

Before the Bell Summary 6/30…

Markets saw further declines in Corn and Soybeans, but Wheat led the market higher on better than expected exports.…

Nationally, 54.6% of the contiguous United States is experiencing some level of drought, down from 62.6% last week, also an improvement from late March before much of the drought set in.…

Afternoon Summary 5/26…

Lower across the board with better rains and falling black sea wheat prices pressuring Ags lower.…

The grain markets mostly closed lower with oilseeds and meal the only bright spots. The CBOT Soft Wheat July contract closed at 561 1/4, down 11 1/2 cents. Hard Red Wheat (KCBT) July contract closed at 581 1/4, down 10 1/2 cents. Spring Wheat (MGEX) September contract ended at 617 1/4, down 8 3/4 cents. Corn and soybean futures also faced downward pressure, with the July corn contract closing at…

Where are you located, and how concerned are you about the drought, whether that means in your backyard or over the nation.…

Earlier this week FBN released our 2024 Planting Intentions Report ahead of the USDA Prospective Plantings Report. A big thanks to everyone who responded to the survey! Your participation what gives FBN such a successful track record at predicting the USDA corn and soybeans acreage compared to other analysts.…